South African on-demand alcohol delivery app BOTTLES has raised ZAR500,000 (US$36,000) from investor Gil Oved after pitching on the MNet show Shark Tank.
The startup successfully pitched to investors on Shark Tank, and walked away with a ZAR500,000 investment for a 10 per cent stake in the business from Gil Oved, co-founder of The Creative Council and board member of venture capital tech fund Grotech.
“Attending Shark Tank has been an incredible experience for us, we prepared for days on end, watching every past episode of the show available online to make sure we were ready for the questions that we were going to be asked,” said co-founder Vincent Viviers.
“This was the opportunity of a lifetime for us. We were nervously excited, and we couldn’t contain our joy when we received offers from three Sharks in the Tank – Gil Oved, Marnus Broodryk and Vinny Lingham. We ultimately settled for the Shark that best epitomises our culture and business, and the one that valued our startup similarly to what our initial request was.”
Oved promised the BOTTLES team hands-on mentoring and the opening of doors to many South African alcohol manufacturers.
“The guys entered into the Tank with the right attitude, passion and, more importantly, showing that they knew their numbers and their business inside-out. Investing in them was an easy decision,” he said.